Planet Labs reported a GAAP loss of $0.07 per share for its fiscal Q2, but its sales and adjusted earnings beat estimates. The satellite company is now generating positive free cash flow and could throw off $100 million in cash profits this year. Stock shot up by 35% after beating sales and earnings forecasts. Revenue hit a new record with pivotal defense contracts contributing to growth. Gross profit margin surged by 5 percentage points to 58%. Although not yet profitable, Planet Labs is free-cash-flow positive. Analysts see potential for $100 million in free cash flow by year-end.

Read more at Nasdaq.: Why Planet Labs Stock Went to the Moon Today